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Affordable Housing Analysis in Zip Code 64108: A 30-Year LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 64108 in Kansas City, Missouri, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 881 units in LIHTC-funded projects, with 662 designated as low-income units. Based on the estimated housing inventory of 3,806 units for the zip code, LIHTC-funded affordable housing comprises approximately 23.1% of the total housing stock. This percentage indicates that LIHTC projects play a substantial role in providing affordable housing options in this area.
The LIHTC projects in zip code 64108 have received $3,886,575 in tax credits, averaging $4,411 in federal funding per unit. This zip code holds 1.11% of the total state LIHTC funding, indicating a notable concentration of affordable housing investment in this area. The first LIHTC project in the zip code, "3010-16 Grand," was completed in 1988, while the most recent project, "The Colonnades At Beacon Hill," was finished in 2018. This 30-year span demonstrates a long-standing commitment to affordable housing in the area.
The LIHTC-funded projects in zip code 64108 offer a diverse range of unit types. There are 29 efficiencies, 235 one-bedroom units, 354 two-bedroom units, and 73 three-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, zip code 64108 has experienced population growth, increasing from 8,209 in 2010 to 9,934 in 2022. The median income has also risen significantly, from $41,929 in 2013 to $57,727 in 2022. This income growth may indicate a changing economic landscape in the area.
Racial demographics in zip code 64108 have remained relatively stable, with some slight shifts. The white population has increased from 37% in 2013 to 49% in 2022, while the Black population has decreased slightly from 29% to 27%. The Hispanic population has seen a more notable decrease from 30% to 17% during this period. These demographic changes could influence the ongoing need for affordable housing in the area.
Zip code 64108 in Kansas City, Missouri, has a substantial LIHTC-funded affordable housing presence, covering nearly a quarter of the estimated housing stock. The area has seen continuous investment in affordable housing over three decades, with a diverse range of unit types available. While the population and median income have grown in recent years, the continued presence of LIHTC projects suggests an ongoing need for affordable housing options in this evolving urban area.
